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Top 10 Development Projects in Saudi Arabia, Based on Value
February 14, 2018

A significant number of development projects populate the 10 highest value construction projects in Saudi Arabia, according to the latest ‘Top Projects in Saudi Arabia’ report prepared by the BNC Network for The Big 5 Saudi.

The multi-development expansion of Mecca’s Holy Haram Mosque and the"...

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SR250 fee for house rent deal registration
February 13, 2018

An electronic rental network was launched here on Monday to regulate the Kingdom’s real estate rental market.

A registration fee of SR250 has been fixed for residential rental contracts and SR400 for commercial rental contracts.

The network offers a wide range of electronic services such as documenting contracts, electronic payment, and obliging real estate agents to submit a uniform rental contract on the network so as to be approved"...

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E-rent network launched to organize Saudi real estate sector
February 13, 2018

An electronic rent project has been launched to facilitate electronic payments and minimize disputes, the Saudi Press Agency reported.
According to the project, launched jointly by the ministries of housing and justice, real estate brokers across the Kingdom must document a unified rent contract in the e-ejar network as an approved contract and an executive document.
The launch of the network represents plans to facilitate a rent process between tenants,"...

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New home loan system disappoints applicants
February 8, 2018

The Real Estate Development Fund (REDF) office in Olaya Street in northern Riyadh is a narrow one and cannot accommodate the large number of home loan applicants who come there with big dreams.

Visitors are greeted by the sign 'Your home loan is now easy,' giving the impression that they are in front of a bank or a financial institution.

The REDF has changed its status from provider of home loans to promoter of home loans given by"...

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60 firms licensed to sell land, housing units online
February 8, 2018

The Ministry of Housing has given licenses to 60 companies to sell plots of land and housing units through the Wafi online platform.

The Wafi program is an online platform launched by the Housing Ministry to grant off-plan sales and leasing, organize relations between real estate developers and specialists in the sector, register title deeds, file complaints, and follow-up on services.

The Wafi committee consists of representatives of the"...

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Saudi Arabia unveils new housing programme to boost home ownership
February 7, 2018

Saudi Arabia unveiled a 120 billion riyals new housing programme as the kingdom seeks to boost Saudi ownership of homes from 47 per cent to 70 per cent by 2030.

The kingdom’s programme includes an 18bn riyal loan-guarantee programme to boost access to funding, and 12.5bn riyals to support home down payments, all to be spent through 2030, Housing minister Majed Al Hogail told Bloomberg."...

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60% of Saudi families may own homes by 2020
February 6, 2018

Some 60% of Saudi families may own homes by 2020 and 70% by 2030 as per the Eskan (Housing) program launched in Riyadh by 16 government directorates.

The program will provide affordable and suitable housing units, facilitate housing loans for citizens, update and improve housing policies and enhance the services offered in the housing sector to enable more citizens to own homes.

The program also promotes the cooperation of the private sector"...

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The First Group Signs Landmark Deal to Bring World’s First ‘MasterChef The TV Experience’ Restaurant to Dubai
January 29, 2018

Dubai-based property developer and fast-growing F&B specialist The First Group has signed a landmark deal with global content powerhouse Endemol Shine Group to bring the world’s first MasterChef the TV Experience restaurant to Dubai.

Based on the hugely popular MasterChef reality television series, the restaurant will introduce a world-first"...

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Nearly 50% citizens own houses in Saudi Arabia
January 27, 2018

Results of the latest 2017 housing census show that nearly one in two Saudi homes is owned.
The figure of 49.91 ownership was revealed by the General Authority for Statistics (GaStat) on its official website on Thursday.
The 10-year survey was conducted between April and May last year.
This percentage does not include owned housing units constructed with non-reinforced construction materials including (clay, stone, pitch and bricks).

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SES-14 in Good Health and on Track Despite Launch Anomaly
January 26, 2018

(AETOS Wire)-- Guiana Space Centre – Following the anomaly that occurred during the launch on an Ariane 5 rocket last night, SES announces that it has successfully established a telemetry and telecommand connection to its SES-14 spacecraft and is setting up a new orbit raising plan now. SES-14 would thus reach the geostationary orbit only four weeks later than originally planned. SES confirms that the spacecraft is in good"...

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